Land Securities Share Discussion Threads

[williamcooper104] 02/2/2022 01:55

The credit crunch was a way bigger hit; LAND went into that with 60 plus LTV and huge unfunded capex commitments; leading to mass asset fire sales and a rescue rights They went into covid with c30 something gearing and little development capex (though amusingly the income drop was almost certainly worse this time round than in the credit crunch), and thus didn't have to de-lever The U&I purchase is interesting

[superiorshares] 02/2/2022 00:32

I hope its next 20 years will be 😀.. ie an increasing dividend and gradual recovery in the share price . Corona must have been its biggest shock in the last 30 years , I would have thought ?

[williamcooper104] 01/2/2022 23:51

It's history hasn't been that boring

[superiorshares] 01/2/2022 19:47

Dipped my fungal toenail into Land this morning. Sitting on a small loss a few hours later 😀.
I have every faith this will be predictably boring but financially reliable .

[tomps2] 09/12/2021 09:02

Andy Brough interview with PIWORLD

Andy Brough mentions Land Securities #LAND in the latest PIWORLD interview at 13m11s

Watch the video here:

Or listen to the Podcast here:

[nickrl] 16/11/2021 21:48

Yes its a good bounce back but NRI is down vacancy rates worsening in London, slight drop in regions with retail pks the standout. There admin costs are up but interest costs down although there recent largesse and capex programme will see this go up.

Divi increase makes them more attractive and easily covered now rent provisions are no longer needed but i find these propcos with JVs hard to unpick.

[quepassa] 15/11/2021 12:16

these sorts of macro events are excellent fore-runners and harbingers of economic strength and , in turn, of likely increasing demand and need for corporate real-estate.

[quepassa] 15/11/2021 12:11

you miss the point.

yes what you say about Shell operating companies is correct.

but the point is that Shell is sending a big message to the markets and to other Fortune 500 companies that the UK - rather than Netherlands/EU- is a more desirable place to be Head-Quartered and listed and a more user friendly jurisdiction which will allow it to accelerate its corporate strategy than the EU.

They could've chosen to quit London and move to The Hague. But they didn't.


"Sir Andrew Mackenzie said: "The simplification will normalise our share structure under the tax and legal jurisdictions of a single country and make us more competitive. As a result, Shell will be better positioned to seize opportunities and play a leading role in the energy transition. Shell's Board unanimously recommends shareholders vote in favour of the proposed resolution.".


It would seem that London and the UK are most certainly open for business.

And Shell has voted with its feet by centralising HQ functions in London. Boris should rightly be pleased.

all imo. dyor.
qp

[chucko1] 15/11/2021 11:54

QuePassa, I would be less optimistic only for the reason that although Shell is a huge company, the vast majority of its employees are working at the Op Cos here, there and everywhere and major divisions of the company will continue to operate out of The Hague.

Nevertheless, the big picture appears to be that London remains a perfectly good place to do business.

[williamcooper104] 15/11/2021 11:39

City office rents did fall this year By a whopping 1.1 percent (usual fiddling with incentives will mask the extent of the drop but that's still all considered very good)

[quepassa] 15/11/2021 09:04

The proposed move by Shell away from Netherlands/EU to London potentially has major implications which will resonate globally and impact locally -in a highly favourable way- in the London office/corporate real-estate sectors.

ALL IMO. DYOR.
QP

[quepassa] 01/11/2021 16:21

The U+I acquisition signals a major step-change for LandSec which should be highly positive for shareholders. Urban regeneration to the fore.

[quepassa] 15/10/2021 15:55

Offices all filling up again.

Very encouraging increase in rent roll collection.

[quepassa] 22/6/2021 14:13

Disclosed short positions (21/6/21)

Hammerson 6.3%
British Land 3.6%
Land Securities 0%

[williamcooper104] 22/6/2021 14:04

With a bit of confidence on retail rent falls having peaked LANDs NAV will start to look very believable The office red book valuations aren't stretched given how red hot the London office investment market is (how long that lasts for is a different question of course) - still c10-15 percent cheaper than Berlin/Paris Given the epic piles of real estate PE money raised a bid is clearly a possibility; or rather the new management is going to have to work hard to ensure that that doesn't happen Don't hold LAND at moment; as have preferred US REITs - but it's interesting

[nickrl] 22/6/2021 13:40

Porshe I agree people need be careful what they wish for with wfh and I believe there is a huge underestimation on what trickle down comes from having office workers in cities is on the rest of the economy. The change won't be evident overnight but we risk our city centres being hollowed out that said landlords and bankers have too much invested in real estate so rents will be dropped and more incentives given so an equilibrium will be reached but the likes of LAND are living off yesterdays deals some of which provide some short term comfort on developments but lets see what happens as breaks/expires come due. The other support factor though is the recalibration of dividends means the certainty of income stream for big pension funds in this low interest rate environment so far as resulted in no bigger sellers. Actually as the world is awash with cash its highly like a bid may come.

Im not in here needs to under 6 before i will revaluate.

[nickrl] 17/6/2021 13:57

leedslad i don't see that. LAND like all the propcos have cut deals with tenants so not much to be gained if moratorium had been lifted (which it should have been but with provisions to manage hard hit sectors as well as support to deal with can pay but wont)

[leedslad001] 17/6/2021 10:07

Back down to 5.00

[leedslad001] 17/6/2021 10:06

Gov destroyed landlords for next 12 months

[quepassa] 08/6/2021 17:26

Fascinating discussion/interview on Bloomberg today about the growing trend/demand for landlords to provide more and more services to their tenants rather than just bare-bones office space.

The trend is referred as the "hotelisation of real estate" and began to gain early traction two years ago. The concept is now gaining momentum fast as tenants see the attractions of renting not just the bare-bones premises but paying for additional services of cleaning/catering/reception/office infrastructure and office supplies etc etc etc rather than have to hassle and expense of organising all those services themselves.

Tenants are nowadays not just looking for more flexible lease terms but office space which is fully " amenitised".

A staid and embattled industry which is fast evolving.

[leedslad001] 14/4/2021 14:14

Onwards and upwards more rent will start rolling in an year goes by

[nickrl] 13/4/2021 13:49

LAND out with Q2 rental update only collecting 67% of what has been billed and thats after they netted off £10m not yet due.

Seems to mirror what they've achieved in previous qtrs since start of Covid outside of office sector all other sectors are still below 40% on day 5.

[1nf3rn0] 26/3/2021 08:39

https://news.sky.com/story/reopen-offices-after-lockdown-ends-or-your-staff-may-quit-rishi-sunak-warns-british-businesses-12256912The chancellor says that working in the same place helps younger employees learn and allows for mentoring an spontaneity.Rishi Sunak is calling on Britain's employers to end working from home and allow staff back in the office - or risk them voting with their feet and quitting. Looking beyond the pandemic, the chancellor says working in an office is crucial for young people to get to know colleagues and seek out mentors to help their career."I'm probably in the camp of saying that it's good that people are in offices together," he said, as he appealed to bosses to start investing and hiring when coronavirus lockdown rules are lifted.He added: "I think you can't beat the spontaneity, the team building, the culture that you create in a firm or an organisation from people actually spending physical time together."

[leedslad001] 25/2/2021 13:54

7.50 first target